Trinity Capital Inc. (TRIN) Income Statement
TRIN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTRIN revenue and net income
Where TRIN's revenue goes
2025Each bar shows an amount and its share of revenue. TRIN kept 58.4% of revenue as net income.
TRIN profit margins
TRIN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −2.2% | +74.7% | +57.7% | — |
| Gross profit | +32.3% | +191.4% | +76.9% | — |
| Operating income | +82.8% | — | — | — |
| Net income | +17.3% | — | — | — |
| EPS (diluted) | −0.9% | −0.5% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TRIN quarterly EPS vs estimates
Trinity Capital beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.51).
TRIN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $232.3M | $237.4M | $174.8M | $43.5M | $155.1M | $23.8M | $0 |
| Cost of revenue | $51.4M | $61.9M | $33.1M | $34.1M | $15.5M | $10.4M | — |
| Gross profit | $232.3M | $175.5M | $141.7M | $9.4M | $139.6M | $13.4M | — |
| Research & development | — | — | $0 | $0 | $1 | $0 | — |
| Sales, general & admin | $17.9M | $14.2M | $12.0M | $10.2M | $7.2M | $4.4M | $1.3M |
| Total operating expenses | $16.1M | $57.2M | $12.0M | $37.4M | $22.8M | $29.9M | $1.3M |
| Operating income | $216.2M | $118.3M | $129.7M | −$28.0M | $132.3M | −$6.1M | −$1.3M |
| Interest income | $279.5M | $226.7M | $170.9M | $138.8M | $76.6M | $51.3M | — |
| Interest expense | $80.6M | $61.9M | $44.3M | $34.1M | $20.4M | $16.8M | $0 |
| Income before taxes | $135.6M | $118.3M | $79.5M | −$28.0M | $132.3M | −$6.1M | −$524,000 |
| Income taxes | — | $2.7M | $2.6M | $2.4M | −$175.5M | −$31.9M | −$524,000 |
| Net income | $135.6M | $115.6M | $76.9M | −$30.4M | $132.3M | −$6.1M | −$524,000 |
| EBITDA | $221.1M | $118.3M | $134.0M | −$24.2M | $307.8M | −$6.1M | −$733,600 |
| EPS (diluted) | $2.09 | $2.11 | $2.19 | $2.12 | $1.47 | −$1.52 | −$0.02 |
| Gross margin | 100.0% | 73.9% | 81.1% | 21.6% | 90.0% | 56.2% | — |
| Operating margin | 93.1% | 49.8% | 74.2% | −64.3% | 85.3% | −25.7% | — |
| Net margin | 58.4% | 48.7% | 44.0% | −69.8% | 85.3% | −25.7% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $86.4M | $83.3M | $50.4M | $66.2M | $76.1M | $60.1M | $63.1M | $56.8M | $58.7M | $39.8M | $40.5M | $39.9M |
| Cost of revenue | $12.4M | $17.3M | −$5.3M | $21.0M | $18.0M | $17.7M | $0 | $16.9M | $13.9M | $12.1M | $10.4M | $10.8M |
| Gross profit | $86.4M | $66.0M | $50.4M | $45.2M | $58.0M | $42.4M | $63.1M | $39.9M | $44.8M | $27.7M | $30.0M | $29.1M |
| Sales, general & admin | $4.2M | $4.4M | $4.9M | $4.5M | $4.0M | $4.5M | $4.6M | $3.5M | $3.4M | $2.6M | $3.2M | $2.9M |
| Total operating expenses | $4.2M | $4.4M | −$12.9M | $17.0M | $16.0M | $14.7M | $16.4M | $14.9M | $13.4M | $12.5M | $11.6M | $11.6M |
| Operating income | $82.2M | $61.7M | $63.3M | $28.3M | $42.0M | $27.7M | $46.6M | $25.0M | $31.5M | $15.1M | $18.4M | $17.4M |
| Interest income | $79.6M | $83.3M | $77.6M | $72.6M | $66.7M | $62.7M | $66.3M | $59.2M | $51.8M | $49.4M | $44.7M | $45.0M |
| Interest expense | $24.8M | $24.1M | $23.9M | $21.0M | $18.0M | $17.7M | $19.1M | $16.9M | $13.9M | $12.1M | $10.4M | $10.8M |
| Income before taxes | $55.8M | $45.5M | $39.5M | $28.3M | $42.0M | $27.7M | $46.6M | $25.0M | $31.5M | $15.1M | $18.4M | $17.4M |
| Income taxes | $639,000 | — | — | $644,000 | $621,000 | $616,000 | $781,000 | $619,000 | $639,000 | $639,000 | $684,000 | $625,000 |
| Net income | $55.2M | $45.5M | $39.5M | $27.6M | $41.4M | $27.1M | $45.9M | $24.4M | $30.8M | $14.5M | $17.7M | $16.8M |
| EBITDA | $82.2M | $61.7M | $64.6M | $28.3M | $43.1M | $29.0M | $64.9M | $26.5M | $32.7M | $16.2M | $19.5M | $18.5M |
| EPS (diluted) | $0.51 | $0.53 | $0.52 | $0.52 | $0.53 | $0.52 | $0.56 | $0.52 | $0.51 | $0.52 | $0.54 | $0.55 |
| Gross margin | 100.0% | 79.3% | 100.0% | 68.3% | 76.3% | 70.6% | 100.0% | 70.3% | 76.4% | 69.5% | 74.2% | 72.9% |
| Operating margin | 95.1% | 74.0% | 125.7% | 42.7% | 55.2% | 46.1% | 74.0% | 44.0% | 53.6% | 38.1% | 45.4% | 43.8% |
| Net margin | 63.8% | 54.6% | 78.3% | 41.7% | 54.4% | 45.1% | 72.7% | 43.0% | 52.5% | 36.4% | 43.7% | 42.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TRIN's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TRIN financial results
In fiscal year 2025 (ended December 31, 2025), Trinity Capital reported revenue of $232.3 million, down 2.2% from the year before. It had net income of $135.6 million (up 17.3%), a net profit margin of 58.4%. Diluted earnings per share came to $2.09. Over five years revenue grew at an average rate of 57.7% a year.
See the TRIN stock overview for the latest quote and news, or the TRIN chart for price history and technical indicators.
TRIN income statement FAQ
What is Trinity Capital's annual revenue?
Trinity Capital reported total revenue of $232.3 million for fiscal year 2025, which ended on December 31, 2025. That was down 2.2% from $237.4 million the previous year.
Is Trinity Capital profitable?
Yes. Trinity Capital reported net income of $135.6 million in fiscal 2025, a net profit margin of 58.4%; its operating margin was 93.1%.
What is Trinity Capital's gross margin?
Trinity Capital's gross margin was 100.0% in fiscal 2025: for every $100 of revenue, Trinity Capital kept $100 after the direct cost of its products and services.
How fast is Trinity Capital growing?
Revenue grew 57.7% a year on average over the last five fiscal years, from $23.8 million to $232.3 million.
What are Trinity Capital's earnings per share?
Trinity Capital earned $2.09 per diluted share in fiscal 2025, compared with $2.11 a year earlier.
When will Trinity Capital report its next earnings?
Trinity Capital is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 before the market opens.
When does Trinity Capital's fiscal year end?
Trinity Capital's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.